Verified InvestingPublished 2026-10-01
“Yields Hit Banks as Head & Shoulders Patterns Trigger”
$WFCNo side taken
WFC offers a near-term technical bounce opportunity, but weakening trend line support increases risk of further downside.
All right, next up and lastly into WFC. Now, the U financials were under stress today, guys. and they've been under stress as you can see here for the last about week to two weeks of trading action with the rates continuing to push higher up on the charts.
Now, what WFC did today, excuse me, is they pierced a long-term inclining trend line. Now, check out the RSI on this chart. It's down at 32.58. So, we're getting on the warning track just for a pure technical bounce on the charts.
A bounce of a technical nature with optimistic point of view could take us all the way up here to 8354. the bottom range of this previous consolidation. So, it's a great start for now.